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Fall
2009 Affordable
Housing Highlights |
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ULI Marketplace 2009 |
| The Affordable
Housing Conference
of Montgomery County
was an exhibitor at
the 3rd
annual ULI
Marketplace on
September 15, 2009.
Over 50 exhibitors
were present and
there were a number
of interesting panel
discussions. I was
able to attend 3
panels: Changing
Capital Stack,
Distressed
Assets/Stabilizing
Communities and
Rockville/White
Flint Transit
Development. |
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Housing Fair |
| The Conference
is also going to be
a sponsor at the
Montgomery County
Housing Fair on
October 3, 2009,
10-3 pm. Please
stop by Bohrer Park
in Gaithersburg to
learn about managing
money and credit,
preventing
foreclosure and
eviction and keeping
your home and
neighborhood safe.
Click here for more
information |
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New Conference Board
Member |
| The Conference
is pleased to
announce that Conrad
Egan, of the
National Housing
Conference has
joined our Board of
Directors. Mr. Egan
recently wrote an
article entitled
“The New American
Dream – Affordable
Homes for Owners and
Renters”.
Click here to read
the American Dream
PDF |
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Break the Barrier to
Home Ownership |
| On September 21,
2009 the Conference
held a “Welcome
Home” ceremony and
photo opportunity
with County
Executive Ike
Leggett for six
contest award
winners from the
Conference’s 2008
and 2009 “Break the
Barrier to Home
Ownership” closing
cost assistance
program. Within the
past eight months
the Conference and
its generous
sponsors have
provided a total of
$40,000 in
assistance to all
six contest award
winners making their
dreams of
homeownership become
reality. The
Conference would
like to sincerely
thank its contest
sponsors Craig
Pascal of PNC Bank,
Robin Bates of MCT
Federal Credit
Union, Conference
Co-Chair Norman
Dreyfuss and three
anonymous donors for
their generous
commitment to
funding Conference’s
“Break the Barrier
to Home Ownership”
program. |
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Local Foreclosure
Efforts |
| The Housing
Opportunities
Commission of
Montgomery County
(HOC) is partnering
with the Montgomery
County Department of
Housing and
Community Affairs (DHCA)
to purchase and
renovate foreclosed
or abandoned homes
and add them to the
County’s inventory
of affordable rental
homes. The purpose
of the Neighborhood
Stabilization
Program is to
stabilize
neighborhoods and
stem the decline of
home values of
neighboring homes.
NSP is part of the
Housing and Economic
Recovery Act of
2008. |
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Foreclosure Recovery
Forum
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Date: Friday,
October, 16, 2009 |
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Time: 8:30 - 12:30
pm |
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Place:
Brookside Gardens
Visitors Center,
Wheaton, MD -
Get Directions |
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Sponsor: Freddie
Mac |
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In the past 12
months, the national
foreclosure crisis
has created
significant upheaval
for the US economy
and drastically
changed the lives of
a multitude of
individuals and
families and the
place they each call
"home". The local,
state and
federal response
to the foreclosure
crisis has been
broad-based. Key
partnerships with
government entities,
counseling agencies,
mortgage bankers
and realtors have
been created.
Foreclosure
prevention and
mitigation processes
are in place to help
those in need.
Industry leaders are
united in their
commitment to
stabilize
communities.
However, a recent
Washington Post
article states that
lenders are only
making modest
progress in getting
mortgages modified
through the
government's Making
Home
Affordable program.
Major banks have
worked hard at
reducing the backlog
of people who need
help, and the number
of modifications has
increased in recent
months.
Unfortunately,
unemployment figures
are rising overall
and the current
foreclosure crisis
is due to people who
are failing behind
on mortgage payments
due to job losses. |
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What is really
happening in the
counseling arena and
mortgage servicing
industry? Is
funding from the
2009 Recovery Bill
adequate? What else
can be done to stem
the tide of
foreclosures and
home loss? What’s
next? What are some
jurisdictions doing
with
foreclosed
properties?
How can various
neighborhoods
recover and rebuild
from the affects of
numerous foreclosed
properties? What
other important
challenges lie
ahead? There is
still a tremendous
amount of work to be
done. |
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More Housing Updates
– Keep Checking Back |
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Please check our
monthly calendar for
more updates on
local housing
events. Our Board
is in the process of
finalizing the date
for its 6th
Public-Private
Sector Roundtable in
February 2010 and
the 19th
annual Affordable
Housing Summit in
late April 2010. |
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Lise
Tracey
Executive
Director
Affordable
Housing
Conference
of
Montgomery
County
301-520-1587
(cell)
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